Bowhead Specialty Holdings Inc. ( (BOW) ) has released its Q4 earnings. Here is a breakdown of the information Bowhead Specialty Holdings Inc. presented to its investors.
Bowhead Specialty Holdings Inc. is a specialty lines insurance group that provides casualty, professional liability, and healthcare liability insurance products, operating primarily in the non-admitted insurance market.
In its fourth quarter of 2024, Bowhead Specialty Holdings Inc. reported significant growth in gross written premiums, net income, and return on equity, reflecting strong performance across its divisions. The company also highlighted the successful launch of its new tech-enabled underwriting division, Baleen Specialty.
The company saw a 26.3% increase in gross written premiums for the fourth quarter, reaching $184.8 million, with net income rising to $13.6 million. For the full year, gross written premiums grew by 37% to $695.7 million, and net income increased to $38.2 million. The Casualty division led the growth with a 56% increase in premiums, while the new Baleen Specialty division contributed $1.2 million in premiums in the fourth quarter.
Bowhead’s investment income also saw a substantial rise, with a 79.8% increase in the fourth quarter and a 107.1% increase for the year, driven by a larger investment portfolio and higher yields. The company’s expense ratio improved slightly, reflecting efficient management of operating expenses.
Looking ahead, Bowhead Specialty Holdings Inc. aims to build on its 2024 momentum, focusing on profitable growth and further expanding its innovative underwriting solutions. The company is optimistic about its future potential for cross-cycle profitability.
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